Save Sooner for a Better Retirement

Give yourself more time to save

Why it’s important

The sooner you start saving for retirement, the less you may actually need to put away.

Do you have access to a qualified employer sponsored retirement plan (QRP) such as a 401(k), 403(b), or governmental 457(b)? If so, take advantage of this valuable benefit. If your employer offers matching contributions, consider contributing at least as much as the match - this is free money that you don't want to pass up. If your employer doesn't offer a QRP, think about opening an IRA and consider contributing the maximum amount each year. You are still eligible to contribute to an IRA whether you contribute to a QRP or not.

To keep your retirement goals on target during your peak earning years, you may also want to consider:

Putting part or all of any bonuses, tax refunds, or other lump-sum payments into your retirement savings.

This will allow you to stay focused on maximizing your retirement savings and not let competing priorities get in the way

What you can do: My Retirement Plan®

Whether you’re just starting to plan for your retirement or have been saving for years, the My Retirement Plan tool makes it easy to take the next step in planning for retirement. This easy-to-use, online tool provides a realistic savings goal tailored to you.

Answer a few questions about yourself, your income, and your current retirement savings, and the My Retirement Plan tool will calculate how much you may need in retirement, recommend a monthly amount to save, and provide you manageable steps to take to get you closer to your goals.

If you’re a Wells Fargo customer, sign on to your account and go to My Retirement Plan.

If you don’t already bank with Wells Fargo, visit My Retirement Plan to learn how it works. You’ll also find a link to the public version of the tool below the sign-on button.

Tip

Make a big impact on your retirement savings by maximizing your 401(k) or IRA. With small ongoing contributions, you’ll likely never notice the difference in your take-home pay.

Small steps to retirement savings

Discover how little changes to your spending can have a big impact on how much you can save for retirement.

These articles have been prepared for informational purposes only and are not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. The accuracy and completeness of this information is not guaranteed and is subject to change. Since each investor’s situation is unique, you need to review your specific investment objectives, risk tolerance, and liquidity needs with your financial professional(s) before a suitable investment strategy can be selected. Also, since Wells Fargo Advisors does not provide tax or legal advice, investors need to consult with their own tax and legal advisors before taking any action that may have tax or legal consequences.

Investment and Insurance Products are:

Not insured by the FDIC or any Federal Government Agency

Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate

Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

Retirement Professionals are registered representatives of and offer brokerage products through Wells Fargo Clearing Services, LLC (WFCS). Wells Fargo Advisors is a trade name used by WFCS and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. Discussions with Retirement Professionals may lead to a referral to affiliates including Wells Fargo Bank, N.A. WFCS and its associates may receive a financial or other benefit for this referral.